Nashville Bits and Pieces

[markhollin]

Of the largest 100 markets in the US, over the past five years the inventory of available homes in Nashville declined at the fourth highest rate.  Thus, the bidding wars we have on homes right now.  Can't build 'em fast enough.

http://www.tennessean.com/story/marketplace/real-estate/2017/04/10/dwindling-home-supply-sparks-bidding-wars-around-nashville/100145172/

[smeagolsfree]

Yee-Haw brewing to open taproom in former Slaughterhouse building.

http://www.nashvillepost.com/business/food-business/article/20857739/east-tennessee-brewery-taps-sobro-for-taproom

[tragenvol]

Yee-Haw brewing to open taproom in former Slaughterhouse building.
http://www.nashvillepost.com/business/food-business/article/20857739/east-tennessee-brewery-taps-sobro-for-taproom

Sure do like Yee Haw's Dunkel....notes of biscuits, caramel and cocoa.

Very cool news.

Sent from my SM-G935V using Tapatalk

[claya91]

3-0!!!! Go PREDZ! 

[grilled_cheese]

"one goal"

[MidTenn1]

For Mayor!!!

 

Anyway. how 'bout that JW Marriott.

Edited April 18, 2017 by PHofKS

[TheRaglander]

Just curious, is there a list of all the proposed and under-development projects with 'height' listed?  The subject of some of the threads lists it but not consistently.  It would be nice to get a high level view of buildings and how tall they are compared to other projects.  (Ex, new hotels in the sobro area compared to the Omni Height)

The link is a wiki list of what already exists and some of the projects in progress.

https://en.wikipedia.org/wiki/List_of_tallest_buildings_in_Nashville

[UTgrad09]

13 hours ago, grilled_cheese said:

"one goal"

Give em credit. They now have two, so they exceeded expectations.

[WebberThomas4]

Just an FYI, but the new assessments are now up at PADCTN.org. Go to the Real Property Search tab to search for properties.

Edited April 21, 2017 by WebberThomas4

[dmillsphoto]

55 minutes ago, WebberThomas4 said:

Just an FYI, but the new assessments are now up at PADCTN.org. Go to the Real Property Search tab to search for properties.

*checks site* yeeeowch!

[Vrtigo]

Ouch. My appraised value is up by almost 30%...

[Guest]

WOW! Almost 50% increase in my taxes...glad we have such great school and roads, ohhhh wait a second..... 

[PruneTracy]

Don't forget that a lot of properties were still showing the assessment markdowns that Metro introduced after the 2010 flood.

Other than that, if you want to feel better, look up an estimate of your property value on the Internet. Metro has to catch up to the market sooner or later. Though admittedly it would be nice if they did it when prices didn't feel so... bubbly.

Edited April 21, 2017 by PruneTracy

[Guest]

Mine were already bumped up several years ago 2013 or 2014 I think. And honestly, I do not mind the taxes (this is a lie) if I felt the funds were spent wisely...

[LA_TN]

By district number

Edited April 21, 2017 by LA_TN

[samsonh]

1 hour ago, nashville_bound said:

Mine were already bumped up several years ago 2013 or 2014 I think. And honestly, I do not mind the taxes (this is a lie) if I felt the funds were spent wisely...

50% bump in assessed value is not going to equal a 50% bump in taxes. Overall amount of tax collection remains the same county wide. How people forget this every reassessment blows my mind.

[Hey_Hey]

Remember, though, that a rise in your property value by 50% doesn't mean you pay 50% more in property taxes. Those deep blue areas that saw property values rise 25-27% will likely see their property tax bill decrease. Everything is normalized to the average property value increase county-wide.

[nashvylle]

5 minutes ago, Hey_Hey said:

Remember, though, that a rise in your property value by 50% doesn't mean you pay 50% more in property taxes. Those deep blue areas that saw property values rise 25-27% will likely see their property tax bill decrease. Everything is normalized to the average property value increase county-wide.

If every every section of the entire country rose by 50%, does that mean everyone's taxes would rise by 50%?

[Hey_Hey]

8 minutes ago, nashvylle said:

If every every section of the entire country rose by 50%, does that mean everyone's taxes would rise by 50%?

No, it means everyone would pay the same as before.  State law requires the gross amount of property taxes to remain the same on existing properties unless a concurrent tax rate increase is also approved.  This guarantees that property taxes don't take huge wings up or down with bull or bear real easy ate markets. New building permits allow additional revenue to be created and can increase overall tax revenues. 

I believe the current county-wide increase averaged 37%. If your property increased at 37% the. You will see no property tax change. If your property increased by 38% or more then you will pay more. If your property increased at 36% or less then your property bill will fall. 

Edited April 21, 2017 by Hey_Hey

[markhollin]

From the Nashville Post:

RE/MAX numbers show strong local housing market

RE/MAX Tennessee has released its March Greater Nashville Area housing report, showing home sales are up 5.9 percent compared to the number of March 2016.

Similarly, sale prices are up 12.8 percent compared to the corresponding month of 2016.

Murfreesboro saw the largest spike in sales, with home sales up 23.1 percent over last year’s and prices up 16.9 percent. Sale prices dipped slightly in Franklin and are down 2 percent over last year.

Homes are also selling faster with fewer days on the market, according to the report. Also, inventory continues to decline. A six-month supply of housing is considered a balanced market, with Nashville currently sitting at 2.7 months.

[bigeasy]

I don't think I could deal with the stress of buying a house in the Nashville area right now. My sister and her husband have been looking to move and are having an awful time. It isn't that they have a low budge either, it is just that they can't get to the home quick enough. They find homes the day they are listed that already have 3-4 contracts in place. My grandparents just bought a place and the only reason they got it was because they knew the real estate agent so the house technically never went up for sale. (Even though 3 families were already interested in buying it) 

[Will]

I would encourage everyone affected to appeal their reappraisal if it seems unfair. I've successfully appealed a reassessment and reappraisal on my home twice now and I'm not an attorney or real estate professional. I had to go to the state level both times. It's really no big deal: it boils down to sitting in a conference room with an administrative judge and presenting your arguments in plain English. A rep from the assessor's office will be there too, and in my experience it was very collegial. When you first appeal, Metro will pretty much deny you as a matter of course. They'll mostly want to talk about property comps. But don't be discouraged. PM me if you want to talk more. 

[Vrtigo]

^

Interesting! Good to know in the future. As much as I would like to keep my old rate, I don't think I have a leg to stand on this time.

We just refinanced our home late last year and had a vested interest in ensuring the appraisal came back as high as possible... To then argue that it wasn't worth that amount after all sounds like a great way to get laughed out of the room. 

[titanhog]

Noticed that Knoxville is getting one of these "Olli the Trolley" self-driving trollies...which looks pretty cool.  Wouldn't mind a few of these in Nashville going up and down Broadway.  (posting here because Transportation thread is locked)

Edited April 21, 2017 by titanhog

[smeagolsfree]

It's going to stay locked for a little while too.